K-Beauty Leaders Cosmax and Kolmar Korea Target Chinese Market Rebound Amid Hallyu Ban Easing
Creatrip Team
a year ago
Amid signs of the easing of the Hallyu (Korean Wave) ban, leading K-beauty ODM companies Cosmax and Kolmar Korea are targeting a rebound in the Chinese market. Since the unofficial sanctions post-THAAD deployment in 2016, K-beauty has struggled but recent trends in Korean dramas, movies, and K-pop resuming in China signal recovery. Cosmax achieved record-high performance in 2023, and its Chinese sales rebounded in Q4. Kolmar Korea is also targeting better results with a focus on sunscreen products globally. Optimism prevails among Korean securities firms about the potential of K-beauty in China, despite challenges from the local market dynamics.
